
% Table created by stargazer v.5.2.2 by Marek Hlavac, Harvard University. E-mail: hlavac at fas.harvard.edu
% Date and time: Sat, Sep 10, 2022 - 09:10:16 AM
\begin{tabular}{@{\extracolsep{5pt}}lcc} 
\\[-1.8ex]\hline 
\hline \\[-1.8ex] 
\\[-1.8ex] & (1) & (2)\\ 
\hline \\[-1.8ex] 
 LTV $\leq$ 85 & $-$0.523 & $-$0.497 \\ 
  & (0.022) & (0.022) \\ 
  & & \\ 
 LTV $>$ 95 & 0.167 & 0.153 \\ 
  & (0.026) & (0.024) \\ 
  & & \\ 
 LTV fitted residuals & 1.289 & 1.236 \\ 
  & (0.053) & (0.053) \\ 
  & & \\ 
\hline \\[-1.8ex] 
$\hat{\alpha}_{\text{negative equity}}$ & 0.154 & 0.141 \\ 
 & (0.022) & (0.020) \\ 
Region-Year FEs & Y & N \\ 
CBSA FEs & Y & Y \\ 
Borrower and loan characteristics & Y & Y \\ 
CBSA controls & Y & Y \\ 
Origination year FEs & N & Y \\ 
Instrument & Cyclicality-HPI & Cyclicality-Month \\ 
First stage partial F-Stat & 667.76 & 127.7 \\ 
Log Likelihood & -454,238 & -454,059 \\ 
Observations & 1456127 & 1456127 \\ 
\hline \\[-1.8ex] 
\end{tabular} 
